Billionaires Viktor Vekselberg and Mikhail Prokhorov raised a total of 2.46 billion Hong Kong dollars, or $ 315 million, from the sale of approximately 3% of UC Rusal, Reuters reported citing its IFR unit. 456 million shares were placed at a price of 5.4 Hong Kong dollars, with a discount of 7.5% to the market.
The fact that the placement was at the lower end of the price range, reported and Bloomberg. Prior to the announcement of the deal, a 3% stake in UC Rusal was worth $ 341 million.
For the transaction, the price range was set at 5.4-5.55 HK dollars per paper, which implied a discount of 5-7.5% to the market price.
October 10 it became known that Onexim Holdings Prokhorov and Lamesa Holding Vekselberg began selling 3% stake in UC Rusal in the accelerated procedure for collecting applications. This was stated in the materials of the banks - the organizers of the placement of Goldman Sachs (Asia) and Renaissance Capital, with whom they managed to get acquainted with Vedomosti.
The book of applications was collected within a few hours. The deal was scheduled to be completed on Wednesday, October 11. Representatives of Onexima, Renova (Vekselberg company) refused to comment on Tuesday.
Onexim Holdings sells 0.7% of UC Rusal, Vekselberg's structure is 2.3%, according to the materials for the placement. According to two Vedomosti sources close to the various shareholders of UC Rusal, Prokhorov will receive half of the difference between the offering price and the price at which the structures of Vekselberg and its partners in Sual Partners bought shares of the aluminum company from Onexim structures in August. Then Zonoville Investment Vekselberg and its partners bought 7% of UC Rusal for $ 504 million. Accordingly, 2.3% of shares then cost $ 165.6 million. Today such a package can be estimated at $ 241.19-248.25 million.
After the sale, Onexima's stake in UC Rusal will be reduced to 6%, Sual Partners to 20.5%.
In parallel, En + Deripaska is preparing for an IPO on the London Stock Exchange. The deal will be held in the first ten days of November. The company wants to place 15% of the shares for about $ 1.5 bn. En + is the controlling shareholder of UC Rusal, it owns 48.13%. The second component of the En + business is Eurosibenergo, the main electricity supplier for the aluminum company's plants. The source of Vedomosti, close to the placement, believes that the sale of a 3% stake in UC Rusal will not affect the placement of En +.